THE 2nd ANNUAL CANNABIS PRIVATE INVESTMENT SUMMIT RECAP
Here are highlights of the powerful insights that industry leaders shared at Kahner Global's annual event in New York City. The next summit is taking place Oct 18, 2016 in Toronto.
Last week Kahner Global hosted its second annual Cannabis Private Investment Summit in New York City which provided a forum for industry leaders, family offices, and high net worth investors to share their strengths and insights to better position the cannabis industry for when an imminent end to prohibition occurs (of course, timing of which cannot be determined). The event included presentations from several leading companies that competed for “best pitch” determined by a panel of judges and was held at Dorsey & Whitney. The summit also showcased several professional panels featuring discussions on the ongoing legal complexities as well as tax and banking issues that the industry faces. This includes aspects of the "Cole Memo" which encourages federal enforcement agents not to enforce the Controlled Substances Act in states that have legalized cannabis as long as distributors follow a set of reasonable guidelines.
Also featured was a preview of this year’s election. Five states are set to vote on fully legalizing cannabis (including California) while medical use will be decided in four other states (the largest of which is Florida). The day also included a discussion of Israel’s progress in advancing its medical marijuana market which as of now, leads the world in policy and research. It was noted that some Israeli companies are focusing on plant sciences including genetics and breeding while others are researching synthetic formulations for specific medical conditions and designing new methods for delivery systems. Many Israeli hospitals and universities are currently involved in some aspect of cannabis research and these strides have captured the attention and capital of U.S. investors. Also, many Israeli cannabis companies continue to seek strategic partnerships with American enterprises engaged in research.
Additionally other panelists discussed the many challenges in vetting investment opportunities and shared some first hand experiences. Industry veteran Steve DeAngelo provided a backdrop of the opportunities (and challenges) that a successful ballot initiative in California would bring to the industry though expressed caution that a win is not a sure thing.
A fireside chat on Branding was moderated by CNBC’s Kate Rogers with Province Brands co-founder Dooma Wendschuh and Alan Gertner, co-founder of Tokyo Smoke. Province, based in Toronto seeks to provide adult consumers with an alternative to alcohol with a beverages containing different variations of THC. Also, Gertner discussed his company’s branding efforts which would bring Starbucks like store fronts to the recreational cannabis user. Both companies are helping to shape the future of the industry with hopes of bringing cannabis to mainstream acceptance, just like alcohol enjoys.
In addition to Province Brands, Tokyo Smoke, and Loud Cloud, the live pitch session included a presentation from New Frontier Biosciences which focuses on developing and commercializing next generation cannabis products for improved consumption delivery methods. Dooma Wendschuh from Province Brands walked away with bragging rights to this year’s best pitch.
Kahner Global will host its first Private Investor Summit in Toronto. As Canada has fully legalized cannabis, Investment opportunities are substantial and this forum will undoubtedly help elevate awareness of these opportunities.
High net worth Investors and family offices interested in attending the private summit should contact firstname.lastname@example.org for a complimentary invitation to register. Invitations subject to Kahner Global approval.